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The bonds issued by Hardwood Floors & More have a 9.25% coupon and pay interest annually. The face value is $1,000 and the current market

The bonds issued by Hardwood Floors & More have a 9.25% coupon and pay interest annually. The face value is $1,000 and the current market price is $1,014.60. The bonds mature in 16 years. What is the yield to maturity on these bonds?

a 9.07%

b 10.35%

c 9.36%

d 8.44%

e 11.58%

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